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During the year, Eugene had the four property transactions summarized below. Eugene is a collector of antique glassware and occasionally sells a piece to get funds to buy another. What are the amount and nature of the fain or loss from each of these transactions?

Property Date Acquired Date Sold Adjusted Basis Sales Price

Antique Vase 6/18/02 5/23/13 37,000 42,000

Blue Growth Fund (100 Shares) 12/23/04 11/22/13 22,000 38,000

Orange Bonds 2/12/05 4/11/13 34,000 42,000 *

Green Stock (100 Shares) 2/14/13 11/23/13 11,000 13,000

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Accounting Basics, Accounting

Category:- Accounting Basics
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